The market in the past two days has been relatively exciting, with prices fluctuating from 90,000 to 80,000 to 70,000, all within just a week. Today's market saw Bitcoin make adjustments in the morning, leading to a slight rebound. After that, prices started to accumulate strength for a downward movement, with the 85,000 level to below 80,000 during lunchtime. We positioned short orders around 86,000 in the morning, and the points we provided were quite accurate. Throughout the day, there was no space for bulls to counterattack. Ethereum followed Bitcoin's trend, rebounding to around 2,310 in the morning before facing pressure to move downward, hitting a daily low of around 2,090. The low has been broken again, and currently, the price is around 2,100.
From an overall structural perspective, there has been a strong pullback, and not just once, clearly indicating a top-bottom conversion. The current rhythm of the pullback has gradually been released, with only waiting for an upward movement left. Combining with the hourly level's continuous decline to the lower track, the market is in a repair and adjustment phase, with a three-day excessive volume. This bottoming market allows for long positions to be arranged around the low points. There has been no continuous rise or fall in the market. Here, we will first pay attention to the strength of the rebound for low long participation.
For the day, it is recommended to go long on Bitcoin at 78,500-79,000, targeting 83,000.
For the day, it is recommended to go long on Ethereum at 2,080-2,100, targeting 2,200.
